Consulting - Loan Servicing Associate Job

Job Title: Consulting - Loan Servicing Associate
Description:

Contractor will assist Client in analysis and underwriting of select loans according to Client policy and guidelines. Some loans will be purchased and retained in Client's portfolio for investment ("Portfolio" loans); others will be purchased for securitization ("CME" loans). The scope of work includes:

- Conduct loan package review and analysis;
- Complete the underwriting process using Client's systems via remote access, and according to Client's credit policy and underwriting standards; and
- Provide Client with a defined set of Deliverables for Client's review and approval.
- All of the Services will be performed, and all data and other information related to the Services securely stored on Client issued laptops.

Mandatory Staff Requirements:

Must have at least three (3) years of commercial income property underwriting experience, two (2) years of CMBS underwriting experience, and have underwritten at least twenty-five (25) multifamily loans) and have at least three (3) years of Targeted Affordable Housing ("TAH") income property underwriting experience and must have underwritten at least twenty-five (25) TAH multifamily loans including combination bonds, 4% LIHTC, IRP decoupling, Section 8 with overhang and other complex TAH deal structures; or (ii) in the absence of having such experience and qualifications, have been approved in advance by Client on a case-by-case basis. All of Contractor's personnel dedicated to this assignment must have resumes that have been submitted to and approved by Client.

Contractor must have a demonstrated understanding of the Multifamily loan market with respect to:

o Underwriting process for multifamily real estate

o Underwriting standards for multifamily real estate

o Underwriting expertise with the following products:

- CMBS Multifamily
- Conventional multifamily
- Student Housing

Value Added:

Contractor with underwriting expertise in any or all of these products:

o Small Loans

o Seniors Housing

o Affordable Housing

o Military Housing

o Manufactured Housing

Specific Requirements:

(A) Underwriting:

Contractor will assist Client with the underwriting process of individual loans. Each loan will have an assigned Client region-based as well as an Underwriter/Analyst responsible for working with Contractor throughout the underwriting process. The underwriting tasks and Deliverables are different depending on the delivery path selected by the lender: the Early Rate Lock (ERL) path, or the Standard Delivery (STD) path. The specific requirements for each type are identified in the tables below. Format of Deliverables shall be in a format determined by Client, unless otherwise specified and approved by Client.

Early Rate Lock path:

1) Review the Early Rate Lock package forwarded by Client.

2) Check for completeness using the Package Content Checklist provided by Client.

3) Contact Client Underwriter/Analyst with list of missing information (within 24 hr of receiving the package information).

4) Start the underwriting process if Client determines there is sufficient information in the package to proceed and the missing information is not critical enough to hold the process.

5) Circle Brief / Pre Rate Lock Underwriting process:

a) Check rent rolls for accuracy and compliance with rent roll input direction (provided by Client as part of Underwriting training)

b) Perform initial underwriting according to Client TAH Underwriting Guide and Multifamily Credit Policy requirements

c) Check Income and Expenses (I&E), terms, rates information against the documentation provided by Client

d) Discuss any change/discrepancy with Client Underwriter/Analyst

e) Document discussions, issues, variances, waivers and decisions with Client

f) Complete filling in the required data in the underwriting record already created by Client Underwriter/Analyst in the Underwriting systems (MPS and Multisuite for Underwriting)

g) Draft an initial/draft Circle Brief using Client templates.

h) Document the data elements that could not be completed in the systems.

i) Send the required documentation (listed under the Deliverables column) to Client Underwriter/Analyst.

6) Final Brief / Post Rate Lock Underwriting process (upon receipt of final underwriting package and Client indication to proceed (items 1-4 above):

a) Perform final underwriting according to CMBS standards, Client CME TAH Underwriting Guide, and Multifamily Credit Policy Requirements

b) Discuss any change/discrepancy with Client Underwriter/Analyst/CME Underwriter

c) Document discussions, issues, variances, waivers and decisions with Client

You have high expectations for yourself and your career. So does McGladrey. Imagine what we will achieve together.

Your Move

You want your next step to be the right one. You've worked hard to get where you are today. And now you're ready to use your unique skills, talents and personality to achieve great things. By understanding what's important to you, we will create meaningful experiences that build upon your already rewarding career. McGladrey is a place where you are valued as an individual, mentored as a future leader, and recognized for your accomplishments and potential. Working directly with clients, key decision makers and business owners across various industries and geographies, you'll move quickly along the learning curve and our clients will benefit from your fresh perspective.

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About McGladrey

McGladrey & Pullen, LLP operates under the McGladrey brand as the fifth largest U.S. provider of assurance, tax and consulting services, with nearly 6,500 professionals and associates in more than 70 offices nationwide. McGladrey & Pullen is a licensed CPA firm, and is a member of RSM International, the sixth largest global network of independent accounting, tax and consulting firms. For more information, visit http://www.mcgladrey.com/, follow our Careers blog, like our Facebook Careers page, follow us on Twitter and/or connect with us on LinkedIn.

EEO/AA

Location Street Address: 8000 Towers Crescent Dr., Ste. 500
City: Vienna
State: Virginia

Region: Northeast Region
Position Type: Full Time
Job Type: Experienced
Degree Required: Bachelor
Travel Required:
Relocation Eligible:
Sponsor candidates who are not eligible to work in US: No

Requisition ID: NEMC8100

Nearest Major Market: Washington DC
Job Segments: Accounting, Consultant, Consulting, Contract, CPA, Finance, Insurance, Loan, Marketing, Real Estate, Sales, Social Media, Technology, Underwriter